The only thing it changes to is the hostname. I don't really know how it works tbh. I had it once say Chewbaka.com or something around that, but it might only show that locally.
@"Pichu", yes, it is possible.
I've used sometimes proXPN, and sometimes that I've logged back in the account to see if it has a different ip, it has my pc name.
But I don't really know how to do it, I has happened to me sometimes using proXPN.